Innovation Management in Entrepreneurship for Sustainable Economic Development in the Era of the Fifth Industrial Revolution

This research aims to adapt the approach to managing the innovation-driven entrepreneurial Economy 5.0, focused on the creation and implementation of disruptive innovations, to the specific business environment of Central Asian countries. This serves as the primary research objective. Based on statistical data from 10 Central Asian countries in 2024, the authors developed a Central Asian model for the sustainable development of the innovation-driven entrepreneurial Economy 5.0. This model clarifies and quantitatively measures the impact of innovation management measures in entrepreneurship on economic sustainability in Central Asia, highlighting its theoretical significance. Using this model, the authors conclude that the effective application of the innovation-driven entrepreneurial Economy 5.0 approach, which emphasizes disruptive innovation, requires Central Asian countries to increase business investment in innovation, fostering R&D collaboration between enterprises and universities, creating knowledge-intensive jobs, and patenting innovations. Compared to other regions, less emphasis should be placed on increasing the participation of women researchers in R&D activities. The research also assesses the sustainability of the innovation-driven entrepreneurial Economy 5.0 in Kyrgyzstan in 2024, identifying the strengths and weaknesses of R&D business administration within Industry 5.0 in the country. Additionally, a forecast for the sustainable development of the innovation-driven entrepreneurial Economy 5.0 in Kyrgyzstan has been formulated, along with strategic recommendations for improving governance in this area. The practical significance of the proposed recommendations lies in their potential to unlock the full capacity of Kyrgyzstan’s sustainable economic development in the Fifth Industrial Revolution.